Petrojam Limited, Jamaica’s state-owned oil refiner, has resumed fuel exports to Trinidad and Tobago, securing a significant deal worth approximately US$90 million (or $14 billion) for 2025. Under the agreement, Petrojam will supply nearly one million barrels of both very low-sulfur fuel oil (VLSFO) and high-sulfur fuel oil (HSFO) to the Caribbean nation.
Telroy Morgan, General Manager of Petrojam, emphasized that the deal is groundbreaking due to its scale, frequency, and the substantial revenue it will bring to both the company and Jamaica. “The volume, the frequency, and the revenue are game-changers in this instance,” Morgan noted.
Under the new agreement, Petrojam will export between 60,000 and 90,000 barrels of fuel per month to Trinidad and Tobago, primarily for the purpose of refueling ships in the country’s waters. The first shipment departed Jamaica last Sunday and arrived in Trinidad and Tobago on Wednesday.
This export deal represents a major milestone in Jamaica’s strategy to expand its energy exports and increase foreign exchange earnings, according to Minister of Science, Energy, Telecommunications, and Transport (MSETT) Daryl Vaz.
“This is a moment for all of us to take pride in,” Vaz stated. “Jamaica has once again strengthened its competitive position in the global economy, positioning itself as a regional leader in non-traditional exports.”
The deal is expected to significantly boost Jamaica’s export figures and foreign exchange earnings, Minister Vaz added. In 2023, Jamaica’s exports to Trinidad and Tobago totaled US$35.91 million, while Trinidad and Tobago’s exports to Jamaica reached US$177.49 million in 2022.
Vaz further emphasized that while Petrojam’s near-term goal is to supply Trinidad and Tobago, the company’s long-term plan is to maintain its position as the key supplier of fuel to the country, at least until its refinery is operational again.
Telroy Morgan, Petrojam’s General Manager, also mentioned that the company is considering expanding fuel sales to other Caribbean nations. Petrojam has previously supplied petroleum products to countries such as Guyana and Antigua.
The deal was finalized with support from the Ministries of Energy, Foreign Affairs, and Commerce, as part of Petrojam’s strategic pivot after the introduction of liquefied natural gas (LNG) in Jamaica for electricity generation. The shift to LNG led to a reduction in demand for heavy fuel oil, prompting Petrojam to explore new markets.
Petrojam produces and sells a variety of energy products, including cooking gas, gasoline, jet fuel, diesel, heavy fuel oils, and bitumen for road construction. The company’s export deal with Trinidad and Tobago is particularly notable given Jamaica’s status as a non-oil-producing nation, an irony highlighted by General Manager Telroy Morgan.
“Absolutely ironic,” Morgan remarked. “But it just goes to show the dynamics of the market and how things evolve.”
In addition to fuel exports, Petrojam is also exploring opportunities to sell bitumen for road construction, a product Morgan described as “very, very important.” He emphasized that Petrojam produces some of the highest-quality bitumen in the region, with growing demand beyond Jamaica’s borders.
Despite Trinidad and Tobago’s Pitch Lake, a major source of asphalt, Petrojam continues to successfully export bitumen to the country.
Petrojam operates a refinery in Kingston with a capacity of 36,000 barrels per day, meeting the majority of Jamaica’s energy needs. Currently, the refinery supplies up to 70 percent of the country’s petroleum market across all products.
